Dogecoin
The world’s largest meme cryptocurrency by market value has regained a certain poise after forming a bullish double -bottom pattern during trade overnight.
DOGE has achieved over 2% to over 16 cents since the early Asian hours and turned part of Monday’s slide from 16.63 cents to 15.67 cents, according to Data Source Coindesk.
Per Coindesk’s AI research formed cryptocurrency a “double-bottom pattern” about 15.7-15.8 cents zone with volume above average. Bounce is in line with the recovery in market leader Bitcoin
which has jumped to $ 107,000 from the daily low of about $ 105,200.
The double bottom forms after a remarkable sale and are characterized by two bottom bottoms at about the same level, separated by a short recovery. Any feature over the high logged during the preliminary improvement, as seen in Doges case, is said to confirm a bearish-to-Bullish trend change.
While the Intraday Momentum has changed Bearish, the wider Bearish Lower High Pattern remains, representing a consistent downward downward down since the second half of May.
The daily price diagram indicates that a compelling feature above the lower height of 17 cents established over the weekend is required to invalid the wider bearish setup.
Key AI insight
- DOGE formed a clear double-bottom pattern around $ 0.157- $ 0.158 zone with volume above average, especially within 13: 00-14: 00 hours on July 1st.
- Cryptocurrency experienced a stable increase that culminated with a bullish close to $ 0.161, with increasing volume confirming the buyer interest.
- In the last 60 minutes from July 2, 05:37 to 06:36, DOGE demonstrated a clear bullish trend that rose from $ 0.1605 to $ 0.1611, representing a gain of 0.36%.
- Price action formed an increasing channel with remarkable volume tips at. 06:06 and 06:07 (over 4.4 m and 6.0 m) respectively)confirms strong buyer interest.
- After reaching a local height of $ 0.1611 at. 06:14 DOGE experienced a short withdrawal to $ 0.1606 at. 06:27 before he got to close the hour of $ 0.1611.
